The Rise of Long-Term Joblessness

Peter Coy, Evan Applegate, and Jennifer Daniel

GRAPHIC BY BLOOMBERG BUSINESSWEEK. DATA: RAND GHAYAD, BUREA OF LABOR STATISTICS. PHOTO: GETTY IMAGES

The number of people unemployed for more than six months in the U.S. grew sharply from 2001 to 2010 and hasn’t shrunk much since, even though there are more job openings.

2001-2007

Economy suffers a mild recession followed by a slow jobless recovery. Starting in 2004, continued GDP growth causes unemployment to drop and job openings to increase.

2007-2009

The worst economic downturn since the Great Depression causes massive long-term joblessness.

2009 to today

Job openings are back to where they were in 2003-2004, but the long-term unemployment rate remains much higher than it was then.

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